Former McFadden Adviser Goes on Real Estate Selling Spree

Former McFadden Adviser Goes on Real Estate Selling Spree
15312 Joiner Road in Little Rock (CARMLS)

Remember Michael Vick? He’s the onetime financial adviser and friend of Darren McFadden, former Arkansas Razorbacks and NFL running back.

During the past couple of months, Vick has busied himself converting debt-free real estate into cash. The sales total more than $1.3 million and include:

  • A 7,034-SF house at 15312 Joiner Road on the western outskirts of Little Rock built in 2014, $700,000;
  • A 7,045-SF house at 1510 Schiller St. in Little Rock built in 2015, $410,000; and
  • A 696-SF office building at 5521 Mabelvale Pike in Little Rock, $200,000.

Perhaps a catalyst for the liquidation is Vick’s settling a lawsuit with McFadden.

Vick’s Case

If you recall, back in 2016 McFadden sued Vick in U.S. District Court for “gross incompetence, self-dealing and outright theft” of more than $15 million.

Vick denied the allegations.

But earlier this year, U.S. District Judge James M. Moody Jr. agreed to McFadden’s request to dismiss the claims against Vick.

McFadden’s motion, which was filed in December, doesn’t list a reason why.

The case isn’t closed, though. McFadden’s related claims against Simmons Bank are still pending.

McFadden has blamed the Pine Bluff bank for failing to warn him about more than $10 million in cash withdrawals and transfers by Vick, who was acting as McFadden’s financial adviser.

Simmons denies any wrongdoing.

That case is set for trial sometime during the week of Aug. 18 in federal court in Little Rock with Moody presiding.